RYTHM (NASDAQ:RYM) Posts Earnings Results

RYTHM (NASDAQ:RYM) issued its quarterly earnings results on Friday. The company reported ($5.31) earnings per share (EPS) for the quarter, Zacks reports. RYTHM had a negative return on equity of 185.90% and a negative net margin of 424.11%.The company had revenue of $4.04 million during the quarter.

RYTHM Trading Down 3.7%

Shares of RYTHM stock traded down $1.44 on Friday, reaching $37.34. 8,566 shares of the stock were exchanged, compared to its average volume of 21,578. RYTHM has a 1-year low of $4.29 and a 1-year high of $84.44. The firm has a market cap of $74.68 million, a price-to-earnings ratio of -1.65 and a beta of 9.82. The company has a quick ratio of 2.52, a current ratio of 2.64 and a debt-to-equity ratio of 1.43.

Insiders Place Their Bets

In other news, CEO Benjamin Kovler acquired 1,000 shares of the business’s stock in a transaction dated Thursday, September 25th. The stock was acquired at an average price of $37.08 per share, with a total value of $37,080.00. Following the completion of the transaction, the chief executive officer directly owned 19,000 shares in the company, valued at approximately $704,520. This represents a 5.56% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 2.16% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of RYTHM in a research note on Wednesday. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has a consensus rating of “Sell”.

About RYTHM

Agrify Corporation develops precision hardware and software cultivation and extraction solutions for the cannabis and hemp industry in the United States. The company offers vertical farming units and Agrify Insights Software-as-a-Service software; integrated grow racks and LED grow lights; and non-proprietary products designed, engineered, and manufactured by third parties, such as air cleaning systems and pesticide-free surface protection products.